Marico eyes 2x revenue to Rs 200 billion by FY30 on premium, foods and digital-first bets
CEO Saugata Gupta targets doubling topline from Rs 108 billion in FY25, banking on demand revival, 25%+ foods CAGR, premium reaching 25% of India business by FY27, and digital brands Beardo/Plix hitting Rs 10 billion ARR. Project SETU pushes direct retail to 1 million outlets.
What happened
Marico targets doubling revenue to Rs 200 billion by FY30, betting on demand revival, premium personal care, foods CAGR of 25%+, digital-first brands, and
Key facts
- Rs 200 billion FY30 revenue target
- Rs 108 billion FY25 topline
- food inflation 0.99% YoY May
- VAHO mid-to-high single-digit growth FY26
- ~30% Parachute price hike
- foods 25%+ CAGR
- premium 25% of India biz by FY27
- digital brands 2.5x FY24 ARR
- Beardo/Plix Rs 10 billion ARR FY26
- 1 million direct retail outlets
- A&P 10.4% of revenue
- target price Rs 815
Why this matters
The Rs 10 billion ARR ambition for Beardo and Plix signals continued appetite for digital-first D2C acquisitions and bolt-ons to accelerate the foods and premium growth engines.
What to watch
- Quarterly foods segment growth vs 25% CAGR target
- Premium share of India business trending to 25% by FY27
- Beardo/Plix combined ARR trajectory toward Rs 10 bn
- Rural demand recovery and copra/edible-oil input cost trends
- Gross/EBITDA margin trend as mix shifts to digital-first brands
- Ramp Project SETU direct-reach investment toward 1 mn outlets with tech-enabled distributor onboarding
- Bolt-on M&A in foods and D2C to close the organic CAGR gap
- Reduce coconut/oil dependence in the revenue mix to de-risk commodity swings
- Scale Beardo/Plix marketing spend while pushing toward EBITDA breakeven on ARR